didn't see this one on nostr, an interesting perspective that I wholeheartedly disagree with
nostr:nprofile1qqs9pk20ctv9srrg9vr354p03v0rrgsqkpggh2u45va77zz4mu5p6ccpzemhxue69uhk2er9dchxummnw3ezumrpdejz7qgkwaehxw309a5xjum59ehx7um5wghxcctwvshsfmrzrk
Discussion
Bruh
How dare you only store your life effort and energy in this asset, you no good useless person!
Fixed it: “Holding bitcoin helps bitcoin. Spending, earning, advocating, educating, and using it also helps.”
saying saving isn't a use of money is keynesian bullcrap.
same shit as "but he's not using the house, he should give it away" bitch, property rights matter. if my house can be expropriated so can my life. who wants to live in a society where slavery is ok?
stupid agorists believe this bullcrrap as well. bitch, go fucking find your own patch and work it if that's what you believe in. respect for property rights is the basis of civilization.
the only situation in which any person should forfeit property is when that property was unjustly aquired. eg: expropriation. aka stealing. aka "squatting" if a standing claim on property exists, it has been rightfully acquired because you don't get a title deed when there is liens on it.
I'll just keep buying btc
a lot of people believe the communist propaganda that savers are hurting society.
it's literally the opposite. money that isn't being spent, drives up the value of money that is being spent. money that is saved, can then later be used to fund enterprises that increase efficiency (very often efficient production has a higher initial startup cost) and then the cost of an item on the market drops and that frees up people's money to spend on other things.
i mean, it's so duh, but this is what they teach in the clown schools.
the more money is printed, or credit is issued, the more likely that bad bets will be made because of the lower opportunity cost. that's what we see with bullcrap like the current AI boom. keynesian economics incentivises just moving money around to make business look bigger than it actually is. usually somewhere in it someone is taking the piss and they end up being sacrificed on the altar of "oh, it was just this bernie madoff guy, not central bank credit policy".
Agree, this is like saying the deep freezer that keeps your steak from decomposing is only being used when you open the lid to put something in or take something out.
If everybody hold and no one transact mempool empty, no fees for miners and bitcoin dies. But this is an extreme case senario. Bitcoin is useful for both store of value and censorship resistant transactons so it will be fine. There is demad for both until end of time.
The difficulty adjustment exists for a reason. Bitcoin is built on incentives. When the incentive to mine diminishes folks over levered in mining hardware are forced to make a decision that best suits their economic circumstance-if that decision is to unplug their hardware then, eventually, the mining incentive emerges once again and (hopefully) new participants in the network join in.
Yes Bitcoin's incentieves wil take care of everything. Its a beautyful autonomous truth machine. Or as Ralph Merkle said:
Bitcoin is the first example of a new form of life.
It lives and breathes on the internet. It lives because it can pay people to keep it alive. It lives because it performs a useful service that people will pay it to perform. It lives because anyone, anywhere, can run a copy of its code. It lives because all the running copies are constantly talking to each other. It lives because if any one copy is corrupted it is discarded, quickly and without any fuss or muss. It lives because it is radically transparent: anyone can see its code and see exactly what it does.
Holding is using. Buying and holding is using².
(and it's the hardest thing of all things listed)
That said, it's really fun to use it. I unheld some as part of my talk forcing no coininers to learn how to get some e-cash via cashu.me QR code I put up on the screen during Q&A, It was well received and someone actually managed to get the coins.
Can 2016 have it's arguements back
Saving is using